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Volkswagen:Competition From China EVs: Difference between revisions
Volkswagen:Competition From China EVs (view source)
Revision as of 17:47, 5 September 2024
, 5 September 2024→Breakthroughs in the development of batteries
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* Chinese battery markers also benefit from the fact that the country is home to some of the most important battery materials such as cobalt, nickel sulfate, graphite and lithium hydroxide<ref>https://www.technologyreview.com/2023/02/21/1068880/how-did-china-dominate-electric-cars-policy/</ref>. For instance, half of the global capacity for the processing of cobalt, manganese and lithium is controlled by China<ref>https://www.gisreportsonline.com/r/ev/</ref>. | * Chinese battery markers also benefit from the fact that the country is home to some of the most important battery materials such as cobalt, nickel sulfate, graphite and lithium hydroxide<ref>https://www.technologyreview.com/2023/02/21/1068880/how-did-china-dominate-electric-cars-policy/</ref>. For instance, half of the global capacity for the processing of cobalt, manganese and lithium is controlled by China<ref>https://www.gisreportsonline.com/r/ev/</ref>. | ||
* According to CSIS, Chinese battery makers also receive subsidies from the government. For instance, in 2023 CATL received $809 million while EVE Energy received $209 million in state subsidy<ref name=":0" />. | * According to CSIS, Chinese battery makers also receive subsidies from the government. For instance, in 2023 CATL received $809 million while EVE Energy received $209 million in state subsidy<ref name=":0" />. | ||
* According to BBVA Research, battery sales by Chinese automakers accounted for 60% of worldwide sales in 2022. According to Bloomberg, LFP batteries were 32% cheaper than NMC batteries in 2023<ref>https://about.bnef.com/blog/lithium-ion-battery-pack-prices-hit-record-low-of-139-kwh/</ref>. Similarly, according to International Energy Agency (IEA), LFP batteries are more than 20% cheaper to produce compared to NMC batteries to produce<ref>https://www.iea.org/reports/global-ev-outlook-2024/trends-in-electric-vehicle-batteries</ref>. | * According to BBVA Research, battery sales by Chinese automakers accounted for 60% of worldwide sales in 2022. According to Bloomberg, on average, LFP batteries were 32% cheaper than NMC batteries in 2023<ref>https://about.bnef.com/blog/lithium-ion-battery-pack-prices-hit-record-low-of-139-kwh/</ref>. Bernstein Research expects the difference to hold through 2028<ref>https://www.coronation.com/en/institutional/latest-insights/investment-views/the-rise-of-electric-vehicles-a-focus-on-byd-auto-july-2024/</ref> meaning automakers that use LFP batteries will continue to have an advantage in this area. Similarly, according to International Energy Agency (IEA), LFP batteries are more than 20% cheaper to produce compared to NMC batteries to produce<ref>https://www.iea.org/reports/global-ev-outlook-2024/trends-in-electric-vehicle-batteries</ref>. | ||
* Some companies such as BYD and CATL also deploy a method called cell-to-pack in batteries. This method enables them to reduce the thickness of the battery layer. According to MG, the method enables them to reduce the thickness of their battery layer to 110 mm compared to 140 mm in Volkswagen batteries. This reduces costs as well<ref>https://europe.autonews.com/blogs/how-mg4-undercuts-vw-peugeot-rivals-price</ref>. | * Some companies such as BYD and CATL also deploy a method called cell-to-pack in batteries. This method enables them to reduce the thickness of the battery layer. According to MG, the method enables them to reduce the thickness of their battery layer to 110 mm compared to 140 mm in Volkswagen batteries. This reduces costs as well<ref>https://europe.autonews.com/blogs/how-mg4-undercuts-vw-peugeot-rivals-price</ref>. | ||
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[[File:Bernsein LFP-NMC.png|thumb|802x802px]] | |||